Barclays Forecasts Strong Price Appreciation for Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare (NASDAQ:ALHC) had its price objective lifted by equities research analysts at Barclays from $7.00 to $8.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target would suggest a potential downside of 35.48% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Stifel Nicolaus increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird boosted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. KeyCorp initiated coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $12.40 on Wednesday. The business has a 50-day moving average of $10.74 and a two-hundred day moving average of $8.73. The firm has a market capitalization of $2.37 billion, a PE ratio of -16.10 and a beta of 1.47. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $12.44.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The company’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. As a group, research analysts forecast that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 7,074 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total value of $63,807.48. Following the completion of the sale, the insider now owns 1,789,023 shares of the company’s stock, valued at approximately $16,136,987.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total transaction of $63,807.48. Following the transaction, the insider now owns 1,789,023 shares of the company’s stock, valued at $16,136,987.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Thomas Freeman sold 39,320 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $12.04, for a total value of $473,412.80. Following the completion of the sale, the chief financial officer now owns 194,609 shares of the company’s stock, valued at $2,343,092.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 354,287 shares of company stock worth $3,964,670 in the last ninety days. 6.60% of the stock is owned by insiders.

Institutional Trading of Alignment Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of ALHC. Principal Financial Group Inc. bought a new stake in shares of Alignment Healthcare during the 1st quarter valued at about $57,000. Virtu Financial LLC bought a new position in shares of Alignment Healthcare during the first quarter valued at approximately $57,000. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare during the 3rd quarter worth approximately $95,000. Creative Planning lifted its holdings in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.